Jefferies Financial Group Inc. Acquires Shares of 10,705 Revvity Inc. (NYSE:RVTY)

Key Points

• Jefferies Financial Group Inc. acquired 10,705 shares of Revvity Inc., valued at approximately $1.13 million, marking a new stake in the company.
• Several brokerages have lowered their price targets for Revvity, with an average price target now at $120.07 and a consensus rating of "Moderate Buy."
• Revvity recently declared a quarterly dividend of $0.07 per share, representing an annualized yield of 0.3%.

Jefferies Financial Group Inc. bought a new position in shares of Revvity Inc. (NYSE:RVTY - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,705 shares of the company's stock, valued at approximately $1,133,000.

A number of other large investors have also recently added to or reduced their stakes in RVTY. Optiver Holding B.V. acquired a new position in shares of Revvity in the fourth quarter valued at $33,000. Quarry LP grew its position in Revvity by 45.7% in the fourth quarter. Quarry LP now owns 303 shares of the company's stock valued at $34,000 after acquiring an additional 95 shares during the period. Vermillion Wealth Management Inc. bought a new stake in Revvity in the fourth quarter valued at $41,000. Continuum Advisory LLC grew its position in Revvity by 39.3% in the fourth quarter. Continuum Advisory LLC now owns 471 shares of the company's stock valued at $53,000 after acquiring an additional 133 shares during the period. Finally, GeoWealth Management LLC bought a new stake in Revvity in the fourth quarter valued at $60,000. Institutional investors own 86.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Wells Fargo & Company decreased their price target on Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. UBS Group raised Revvity from a "neutral" rating to a "buy" rating and cut their target price for the company from $145.00 to $115.00 in a research note on Thursday, May 1st. Evercore ISI dropped their target price on Revvity from $116.00 to $115.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Finally, Barclays dropped their target price on Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $120.07.

Revvity Stock Down 3.1%

RVTY stock traded down $2.76 during mid-day trading on Wednesday, reaching $85.92. The company had a trading volume of 1,216,336 shares, compared to its average volume of 1,189,352. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.33 and a quick ratio of 2.75. The stock has a 50 day simple moving average of $95.42 and a two-hundred day simple moving average of $101.99. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of 36.41, a PEG ratio of 2.37 and a beta of 0.91. Revvity Inc. has a 52 week low of $85.12 and a 52 week high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The company had revenue of $720.28 million during the quarter, compared to the consensus estimate of $711.26 million. Revvity had a return on equity of 7.66% and a net margin of 10.19%. The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 EPS. As a group, equities analysts predict that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 17th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, October 17th. Revvity's dividend payout ratio (DPR) is presently 11.86%.

Revvity Company Profile

Revvity, Inc provides health sciences solutions, technologies, and services in the Americas, Europe, and Asia, and internationally. The Life Sciences segment provides instruments, reagents, informatics, software, subscriptions, detection, imaging technologies, warranties, training, and services. Its Diagnostics segment provides instruments, reagents, assay platforms, and software products for the early detection of genetic disorders, such as pregnancy and early childhood, as well as infectious disease testing in the diagnostics market.